Ethereum (ETH) is now floating around $ 2500, after a slight withdrawal of his recent highlights near $ 2600. It has been a strong few weeks for ETH, with a rally of 50% behind it, but the market is now in a wait -and -see mode. Traders look at the zone from $ 2350 to $ 2425 for support, while every movement above $ 2750 could cause a new momentum. With networkup grades such as ‘Pectra’ and increasing demand for ETH in Defi, sentiment remains quiet bullish, just waiting for the next breakout trigger.
Whales jump in to accumulate ETH
Despite market volatility, the ETH price is still moving in the range, which means that token is still within a bullish range. After trading in a micro range for almost two years, it is expected that an outbreak will take place in a short time. Moreover, token in the wider perspective seems to experience its first consolidation after a strong recovery, which seems to be the start of the next Bullish Golf. This may be the reason that whales have started on a large scale ETH.
The weekly graph of Ethereum shows a tight consolidation within pre -defined resistance and support levels. It also looks like the formation of a bull flag, and therefore an outbreak of the range can push the price beyond the resistance of the canal. That is why the ETH price now seems ready to continue to rise in 2026 and to mark new highlights above $ 7000 in the first few weeks of 2027.